Sandisk (NASDAQ:SNDK) Stock Price Down 9.6% – Time to Sell?

Sandisk Corporation (NASDAQ:SNDK)’s stock price fell 9.6% on Tuesday . The company traded as low as $239.27 and last traded at $240.25. 2,728,601 shares were traded during mid-day trading, a decline of 45% from the average session volume of 5,005,181 shares. The stock had previously closed at $265.88.

Wall Street Analyst Weigh In

SNDK has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of Sandisk from $230.00 to $263.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Wedbush boosted their price objective on Sandisk from $220.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Wells Fargo & Company raised their target price on Sandisk from $115.00 to $230.00 and gave the company an “equal weight” rating in a report on Friday, November 7th. UBS Group reaffirmed an “overweight” rating and issued a $230.00 price target on shares of Sandisk in a research report on Monday, November 3rd. Finally, Citigroup raised their price objective on shares of Sandisk from $150.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $183.00.

Sandisk Stock Performance

The firm has a market capitalization of $35.87 billion and a price-to-earnings ratio of 764.88. The firm’s 50-day moving average price is $151.23 and its two-hundred day moving average price is $81.37. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.03 and a current ratio of 3.29.

Sandisk (NASDAQ:SNDK) last released its quarterly earnings data on Thursday, November 6th. The data storage provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.64. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.12 billion. The company’s quarterly revenue was up 22.6% on a year-over-year basis. Sandisk has set its Q2 2026 guidance at 3.000-3.40 EPS.

Institutional Investors Weigh In On Sandisk

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Sandisk in the third quarter valued at $27,000. CVA Family Office LLC acquired a new stake in Sandisk in the 3rd quarter valued at about $28,000. Parallel Advisors LLC bought a new position in shares of Sandisk in the third quarter worth about $30,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Sandisk during the third quarter worth approximately $32,000. Finally, Covestor Ltd bought a new stake in shares of Sandisk during the third quarter valued at approximately $37,000.

Sandisk Company Profile

SanDisk Corporation offers flash storage solutions. The Company designs, develops and manufactures data storage solutions in a range of form factors using flash memory, controller, firmware and software technologies. The Company operates through flash memory storage products segment. Its solutions include a range of solid state drives (SSD), embedded products, removable cards, universal serial bus (USB), drives, wireless media drives, digital media players, and wafers and components.